Oracle Financials Cloud: General Ledger 2017 Implementation Essentials — Question 4

You created a bills receivable that is factored with recourse and applied a wrong receipt to the short-term debt before the bill maturity date plus the risk elimination days.
Which actions are true? (Choose two.)

Answer options

• A. If the bills receivable is recalled before the maturity date, the status of the bills receivable is updated to Protested.
• B. If the bills receivable is recalled after the maturity date, the status of the bills receivable is updated to Hold.
• C. If the bills receivable is recalled after the maturity date, the status of the bills receivable is updated to Recall.
• D. If the bills receivable is recalled before the maturity date, the status of the bills receivable is updated to Pending Remittance.
• E. If the bills receivable is recalled after the maturity date, the status of the bills receivable is updated to Unpaid.

Correct answer: C, D

Explanation

When a bills receivable is recalled before the maturity date, it is marked as Pending Remittance, indicating it is awaiting further action. If it is recalled after the maturity date, it is updated to Recall, reflecting that it has been taken back after the due date. The other options do not accurately reflect the status updates for the bills receivable under the given conditions.